CME Group

The five years it took regulators to bring high-profile charges against a UK trader underscore how hard it is to spot wrongdoing in fast-developing markets, and may herald problems in detecting future mishaps.

The special meeting for CME Group members with its management team on Friday afternoon to discuss CME Group’s recent announcement that it was closing most of its futures pits had gone on for less than a half-hour when some members began trickling out. They had heard enough.